U.S. propane/propylene inventories posted a 5.4 MMbbl draw for the week ended February 6 — outpacing industry expectations for a 4.2 MMbbl decline and topping the five-year average draw of 3.6 MMbbl by 1.8 MMbbl. Despite the stronger-than-normal pull, total stocks remain historically elevated at 77.3 MMbbl, standing 18.4 MMbbl (31%) above the same week last year, 10.9 MMbbl (17%) above the five-year maximum, and 22.2 MMbbl (40%) above the five-year average. The weekly draw trimmed inventories, though overall stock levels remain historically high.
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- Analyst Insight
U.S. Propane Build Falls Short as PADD 3 Stocks Draw
U.S. propane inventories posted a smaller-than-expected 817-Mbbl build, while PADD 3 stocks reversed course with a counter-seasonal draw—even as weekly exports declined.
- Analyst Insight
U.S. Propane: Record Production Meets Elevated Inventories
U.S. propane inventories continue to build and remain well above historical levels, even as production reaches record highs. Exports have also declined week over week.
- Analyst Insight
Exports Let the Air Out of U.S. Propane’s Cushion Early
U.S. propane inventories have fallen 3.8 MMbbl in three weeks, the steepest decline for this period in at least a decade, as strong exports pull Gulf Coast stocks lower. The surplus to last year has shrunk to 2.7 MMbbl and could disappear as soon as next week.
